Multiple Choice
If two supply curves pass through the same point and one is steep and the other is flat,which of the following statements is correct
A) The flatter supply curve is more inelastic.
B) The steeper supply curve is more inelastic.
C) The steeper supply curve is more elastic
D) The elasticity of supply will be the same for both curves.
Correct Answer:
Verified
Correct Answer:
Verified
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